Get Clear about Financial Planning

Financial Planning

Financial PlanningDreaming about a career that gives you a secure

job, fame, money, career growth and satisfaction? A career as a financial planner can

be your ideal career option. As a financial planner you need to work with numbers and with people. A course in financial planning teaches you how to

save, spend and invest intelligently.

History of Financial PlanningThe financial service sector has come a long way since the last decade. Earlier there were distinct

divisions within the industry such as banks, brokers, agents, mutual fund agents and so on. So an individual needed to go to the bank for taking loans, consult brokers for investments.

Mutual funds were a completely different sector.

History of Financial PlanningThis made people long for a holistic approach

towards financial planning. There was need for planning for children's education, retirement, emergencies etc. Thus, financial planning, a

relatively young profession, emerged.

History of Financial PlanningProfessional financial planning takes a holistic

approach towards managing an individual's financial resources. Financial planners make

recommendations for growing and preserving wealth, minimizing tax, retirement benefits, insurance, investment planning - and more, depending on the client's financial status.

• Specific

• Measurable

• Attainable

• Relevant

• Timely

BUDGETING

1. PAYCHECK

2. RENTAL INCOME

3. GOVERNMENT BENEFITS

4. INTEREST

5. INVESTMENT INCOME

INCO

ME

 1. FIXED EXPENSES

2. DISCRETIONARY EXPENSES

SURPLUS/DEFICITBUDGETING

EXPE

NSES

Emergency FUND

RISK MANAGEMENT

WITH INSURANCE HEALTH

INSURANCE  AUTO INSURANCE

  LIFE INSURANCE   PROPERTY

INSURANCE  LIABILITY

INSURANCE DISABILITY

INSURANCE   LONG-TERM CARE

INSURANCE

The Three C's of Credit

Capacity--Can you repay the credit you're granted? What's your income?

Character--Will you repay the credit you're granted? What's your previous track record?

Collateral--Is there tangible property that can secure the credit extended?

Debt

INVESTING

•GROWTH• INCOME•STABILITY

SAVING FOR RETIREMENT

• BASIC CONSIDERATIONS• WHAT KIND OF RETIREMENT DO

YOU• WHEN DO YOU WANT TO RETIRE• HOW LONG WILL RETIREMENT

LAST?START PLANNING NOW

Estate Planning

PLANNING FOR INCAPACITY

WILLS

FINANCIAL PLANNING FOR BUSINESS

FINANCIAL PLAN

• START-UP COSTS• CASH FLOW PROJECTIONS• PREPARING A CASH FLOW PROJECTION• INCOME STATEMENTS• BALANCE SHEETS• BREAK-EVEN ANALYSIS

Methods of Financing Your Business

• Equity Financing• Partner Investment• Shareholder Investment• Employee Investment• Venture Capital• Debt Financing

HOW TO APPROACH LENDERS

• DOES YOUR BUSINESS REALLY NEED TO BORROW MONEY?

• HOW MUCH DOES YOUR BUSINESS NEED TO BORROW?

• HOW FAST SHOULD YOU REPAY YOUR LOANS?

• UNDERSTANDING THE LOAN APPROVAL PROCESS

• WHAT LENDERS ARE LOOKING FOR

• ESTABLISHING A POSITIVE RELATIONSHIP WITH YOUR LENDER

WHY BUSINESS LOANS SOMETIMES BECOME PROBLEM LOANS

Start PLANNING

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